Money for your Art(business)

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Who says there is no money for the arts? Kickstarter- a crowd-funding platform has given over $150 million dollars to art projects. That’s more than the NEA! People still care about art. And now social media has given everyone a chance to take it directly to his or her audience and make it happen.

Art is getting into the hands of people who love and appreciate it. Art is more available. Artists have another way to get paid and not starve. Or at least get their materials paid for. Read more

Taxes and Crowd Funding

Everyone always asks how is the money from crowd funding taxed. The answer is always- it depends. I know you hate that. I hate that too. However, everyone’s situation is different. First of all, you need to let your tax professional know you have gotten funds from crowd funding. You must explain to that person what you are doing and how you are using the money.

If you are a non-profit, the tax consequences will be much different than if you are a for-profit business. If you have actually started a business, the tax consequences will be different than if you do not own any type of business. You have to decide if it is part of your personal taxes or your business taxes. All of this can be done BEFORE you raise money using crowd funding. Read more

Crowd Investing

Under the Jumpstart Our Business Startups Act, or JOBS Act, small companies will have the ability to raise up to $1 million in equity on an annual basis through crowdfunding, without having to go through the rigorous disclosure process by the Securities and Exchange Commission. This is what I term Crowd Investing

You need an attorney to make sure your paper work is in order. A simple crowd fund where you are not offering shares is simple and easy to do.

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